Binance Research Institute: Strong growth in altcoin market in January, total market value up by more than 40%

According to The Daily Hodl, a recent report from Binance Research Institute stated that the altcoin market grew strongly in January, with its market value increasing from $ 61 billion to $ 86 billion, an increase of more than 40%. The increase in altcoin's market value has caused Bitcoin's market value to fall by 3%, from 68% to 65%. Among them, Dash and ZCoin performed the most prominently. Dash surged 181% last month, and ZCoin followed closely with a 179% increase. It should be noted that Binance's report excludes BSV, and the token rose by 177% in January. In addition, BCH rose 85.2%, followed by LTC and ADA with a 65.1% increase. The report also revealed the market performance of its institutional clients in January. Earlier this month, its institutional trading department found that customers bought a large number of altcoins with low and medium market capitalization. By mid-January, that number had begun to decline as traders started buying Bitcoin. By the end of the month, there were fewer traders selling altcoin positions because they realized that "a lot of altcoins are not inferior to bitcoin."